Growth continues at Nektan in fiscal second quarter

Gibraltar-based international B2B mobile gaming solutions and services provider Nektan plc has posted a Q2-2018 report showing continued growth through strong trading over the period ended December 31 2018,

The company said it continued to deliver year-on-year growth, with NGR in the quarter increasing 41.6 percent to GBP 4.7 million versus the same period last year.

A focus on player quality and reducing bonus cash spend has driven a 37 percent saving in bonuses awarded in Q2 FY18 versus Q1 FY18 and an expected small drop in First Time Depositors (FTDs) at 39,907.

The company launched 17 new sites and five new partners in Q2 FY18 and is currently operating a total of 94 brands from 51 partners with plans to launch up to 18 new sites from both existing and new partners during the current quarter to 31 March 2018 (Q3 FY18).

Nektan launched a number of new games from existing and new vendors, including Evolution Gaming and IWG, taking the Group’s total mobile games portfolio to over 450.

On the business-to-business front the company generated initial revenue from its B2B business and now has five live deals. The platform deal previously announced with Tyche is expected to go live during January 2018 and to generate revenue during Q3 FY18.

In On-premises Gaming in North America, the company’s subsidiary Respin re-branded as Rapid Games; the company signed two further deals and is in discussions with other land-based casinos regarding its on premise solution.

Gary Shaw, interim CEO, reported:

“Our core European business continued to progress as expected in Q2 FY18 with a number of further launches planned in Q3 FY18. Our strategy to move into B2B is paying off with initial revenue generated by the company. We look forward to announcing further positive updates across Nektan’s business over the next few months, including on our platform deal with Tyche and our US business.”

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